Sector Update: Financial Stocks Edge Higher Premarket Tuesday
Financial stocks were edging higher premarket Tuesday, with the State Street Financial Select Sector SPDR ETF (XLF) marginally advancing.The Direxion Daily Financial Bull 3X Shares (FAS) was 0.4% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was up 0.1%.etoro (ETOR) shares were down more than 5% after the company reported a decline in Q2 revenue. etoro also agreed to acquire TradeZero for up to $231 million in cash and up to 2.5 million newly issued Class A common shares.Bank of Montreal (BMO) and Royal Bank of Canada agreed to sell jointly owned Moneris Solutions to Francisco Partners for about CA$2 billion ($1.44 billion) in cash, with BMO entitled to 50% of the proceeds, the company said. Bank of Montreal stock was up more than 1% pre-bell.Invesco (IVZ) had $2.447 trillion in assets under management as of the end of July, down from $2.470 trillion at the end of June, the company said. Invesco stock was 0.6% lower premarket.